Omnicell Achieves Record Revenue in the Third Quarter 2019

Oct 24, 2019

Mountain View, California

Record GAAP and non-GAAP revenues of $228.8 million, up 12.0% year-over-year

GAAP net income per diluted share of $0.46, up 39.4% year-over-year

Record non-GAAP net income per diluted share of $0.76, up 20.6% year-over-year

Omnicell, Inc. (NASDAQ: OMCL), a leading provider of medication management solutions and adherence tools for healthcare systems and pharmacies, today announced results for its third quarter ended September 30, 2019.

GAAP Results

GAAP revenues for the third quarter of 2019 were $228.8 million, up $24.5 million, or 12.0% from the third quarter of 2018. GAAP revenues for the nine months ended September 30, 2019 were $648.7 million, up $73.2 million, or 12.7%, from the nine months ended September 30, 2018.

Third quarter 2019 GAAP net income was $20.0 million, or $0.46 per diluted share. This compares to GAAP net income of $13.6 million, or $0.33 per diluted share, for the third quarter of 2018.

GAAP net income for the nine months ended September 30, 2019 was $39.2 million, or $0.92 per diluted share. This compares to GAAP net income of $22.9 million, or $0.57 per diluted share, for the nine months ended September 30, 2018.

Non-GAAP Results

Non-GAAP revenues for the third quarter of 2019 were $228.8 million, up $24.5 million, or 12.0%, from the third quarter of 2018. Non-GAAP revenues for the nine months ended September 30, 2019 were $648.7 million, up $73.2 million, or 12.7%, from the nine months ended September 30, 2018.

Non-GAAP net income for the third quarter of 2019 was $32.7 million, or $0.76 per diluted share. This compares to non-GAAP net income of $25.7 million, or $0.63 per diluted share, for the third quarter of 2018.

Non-GAAP net income for the nine months ended September 30, 2019 was $87.2 million, or $2.04 per diluted share. This compares to non-GAAP net income of $55.5 million, or $1.38 per diluted share, for the nine months ended September 30, 2018.

Non-GAAP net income for each period excludes, when applicable, the effect of share-based compensation expense, amortization expense of acquired intangible assets, acquisition-related expenses, fair value adjustments related to business acquisitions, restructuring and severance-related expenses, tax reform and restructuring income tax benefits and expenses, contingent gains, and amortization of debt issuance cost.

“We believe the value we are creating through our Autonomous Pharmacy vision is being realized every day, as more and more customers join us on our journey to help revolutionize the pharmacy care delivery model,” said Randall Lipps, chairman, president, chief executive officer, and founder of Omnicell. “We are making significant strides to advance this vision and the way medications can be managed by driving toward a zero-error, fully automated and digitized infrastructure across the continuum of care.”

2019 Guidance

For the fourth quarter of 2019, the Company expects non-GAAP total revenues to be between $240 million and $246 million. The Company expects non-GAAP product revenues to be between $181 million and $186 million, and non-GAAP service revenues to be between $59 million and $60 million. The Company expects fourth quarter 2019 non-GAAP earnings to be between $0.75 and $0.80 per share.

For the full year 2019, the Company expects product bookings to be between $765 million and $790 million. The Company expects non-GAAP total revenues to be between $889 million and $895 million. The Company expects non-GAAP product revenues to be between $653 million and $658 million, and non-GAAP service revenues to be between $236 million and $237 million. The Company expects 2019 non-GAAP earnings to be between $2.79 and $2.84 per share.

View full release here.